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The escalation of tensions between the United States and Iran has caused a sharp increase in oil prices, with Brent crude surpassing $100 for the first time since late July. This rise is driven by Iranian attacks on oil tankers and the American military destroying around eight Iranian tankers since September. As a result, oil transit through the Strait of Hormuz has slowed significantly compared to pre-war levels, raising concerns about a potential decline in global supplies. The U.S. Energy Information Administration expects prices to continue rising, as export restrictions in the Middle East are projected to persist until the end of 2026, with Brent possibly exceeding $90 in the second half of the year.
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